Slide Insurance (NASDAQ:SLDE) Director Robert Gries, Jr. Sells 61,762 Shares of Stock

Slide Insurance Holdings, Inc. (NASDAQ:SLDE) Director Robert Gries, Jr. sold 61,762 shares of Slide Insurance stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $24.28, for a total transaction of $1,499,581.36. Following the completion of the transaction, the director directly owned 1,523,449 shares of the company’s stock, valued at $36,989,341.72. The trade was a 3.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Slide Insurance Stock Down 1.1%

Shares of NASDAQ SLDE opened at $24.45 on Friday. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.02. Slide Insurance Holdings, Inc. has a 12-month low of $12.53 and a 12-month high of $25.09. The firm’s 50-day moving average price is $21.84 and its 200-day moving average price is $19.43. The stock has a market capitalization of $2.86 billion, a price-to-earnings ratio of 5.96 and a beta of 0.07.

Slide Insurance (NASDAQ:SLDE) last released its quarterly earnings results on Tuesday, July 28th. The company reported $1.06 EPS for the quarter, topping the consensus estimate of $0.88 by $0.18. The company had revenue of $386.82 million during the quarter. Slide Insurance had a return on equity of 50.69% and a net margin of 40.02%. On average, equities research analysts anticipate that Slide Insurance Holdings, Inc. will post 3.79 EPS for the current fiscal year.

Slide Insurance Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were given a dividend of $0.07 per share. The ex-dividend date was Friday, August 14th. This represents a $0.28 dividend on an annualized basis and a yield of 1.1%. Slide Insurance’s payout ratio is 6.83%.

Institutional Trading of Slide Insurance

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. WINTON GROUP Ltd lifted its position in shares of Slide Insurance by 153.5% during the second quarter. WINTON GROUP Ltd now owns 28,500 shares of the company’s stock worth $552,000 after purchasing an additional 17,256 shares during the last quarter. Engineers Gate Manager LP bought a new position in shares of Slide Insurance in the second quarter worth about $688,000. Allianz Asset Management GmbH bought a new position in shares of Slide Insurance in the second quarter worth about $14,530,000. Corient Private Wealth LP increased its stake in Slide Insurance by 12.3% in the 2nd quarter. Corient Private Wealth LP now owns 39,503 shares of the company’s stock worth $765,000 after buying an additional 4,323 shares during the period. Finally, California State Teachers Retirement System increased its stake in Slide Insurance by 2,565.5% in the 2nd quarter. California State Teachers Retirement System now owns 674,851 shares of the company’s stock worth $13,072,000 after buying an additional 649,533 shares during the period.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on SLDE shares. Citizens Jmp raised their target price on shares of Slide Insurance from $25.00 to $27.00 and gave the stock a “market outperform” rating in a report on Thursday, July 30th. Wall Street Zen downgraded shares of Slide Insurance from a “buy” rating to a “hold” rating in a report on Saturday, August 29th. Citigroup reissued an “outperform” rating on shares of Slide Insurance in a research report on Thursday, July 30th. Barclays raised their price objective on shares of Slide Insurance from $27.00 to $28.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 29th. Finally, Morgan Stanley set a $22.00 target price on Slide Insurance in a research report on Monday, August 3rd. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Slide Insurance has an average rating of “Buy” and a consensus target price of $25.40.

Slide Insurance Company Profile

Launched in 2021, we are a technology enabled, fast-growing, coastal specialty insurer. We focus on profitable underwriting of single family and condominium policies in the property and casualty (“P&C”) industry in coastal states along the Atlantic seaboard through our insurance subsidiary, Slide Insurance Company (“SIC”). We utilize our differentiated technology and data-driven approach to focus on market opportunities that are underserved by other insurance companies. We acquire policies both from inorganic block acquisitions and subsequent renewals, as well as new business sales through a combination of independent agents and our direct-to-consumer(“DTC”) channel, through which we sell our insurance products directly to end consumers, without the use of retailers, brokers, agents or other intermediaries.